Section 57: Particulars of register.

(1) A capital market operator to whom this part of this Act applies shall, in the prescribed form, give notice to the Commission of such particulars relating to the register of securities as may be prescribed including the location of the register.
(2) The notice required to be given under subsection (1) of this section shall be given:
(a) in the case of a person who is required by this Act to hold a Commission's registration Certificate, on his application for the Certificate; and
(b) in any other case, within 14 days after becoming a person to whom this part of this Act applies.
(3) A person to whom this part of this Act applies shall, within 14 days of his ceasing to be such a person give to the Commission the notice required under subsection (1) of this section and the notice of the cessation.
(4) A person who fails or neglects to give the notice required under this section commits an offence and is liable on conviction to a fine not less than N100,000 or to a term of imprisonment not less than six months or to such fine and imprisonment.
(5) The Commission may, in lieu of a prosecution under subsection (4) of this section, impose a penalty of not less than N100,000 and a further sum of not less than N5,000 for every day violation continues.